Some senators are pressing for the fourth wave of stimulus funding, which would essentially send periodic payouts until the pandemic is over, but there's another kind of stimulus check that everyone should be aware of.
Federal Aid Response Released To Millions of Americans
During the third wave of direct stimulus funding, the Internal Revenue Service has delivered more than 169 million payments, with more than 2 million taxpayers getting $1,400 checks in July to alleviate to economic crisis millions of Americans experienced, as per CBS News.
So far, the federal response to the economic crisis caused by the global pandemic has paid out $3,200 to eligible adults, $1,200 in March 2020 under the Coronavirus Aid Relief and Economic Security Act, $600 in December relief, and $1,400 in March under President Joe Biden's American Rescue Plan.
Despite this aid, millions of Americans remain in financial trouble; and the Delta variant's spread is causing additional economic challenges. Almost a quarter of Americans said they could not afford to pay their bills, according to a published article in Yahoo News.
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Five Programs Millions of Americans Can Avail
These are some of the initiatives that are pouring money into the bank accounts of Americans, in the form of anything from financial aid for homeowners to government checks for qualifying parents. Technically, none of these payments count as a fourth stimulus payment. But, in the end, the programs achieve the same outcome, according to a published article in BGR.
Child Tax Credit
It has already remitted tens of billions of dollars to American households this year. Two additional inspections, out of a total of six, are expected to arrive before the end of the year. The next one is on November 15th. After that, on December 15, there will be one last child tax credit check.
These payments provide a few hundred dollars to eligible families for each kid who meets the benefit's criteria. Families will get either $300 or $250 depending on whether their kid is under the age of six or between the ages of six and seventeen. Add up all six child tax credit checks, and you'll receive the same amount as a tax credit next year for the recipient families.
Payment for Renters and Homeowners
There is a government Homeowners Assistance Fund that homeowners should be aware of. Potential help seekers must show that they are experiencing financial hardship as a result of the pandemic. The funds may be utilized for a variety of purposes, including mortgage payments, homeowner's insurance, and more.
Meanwhile, the stimulus package signed by President Biden earlier this year, as well as the Trump administration's final stimulus measure, set aside $46.6 billion in emergency help for rental assistance programs. To be eligible for this monetary assistance, your income must be less than 80 percent of the median income in your region.
Food Workers Grant
There is one more program to discuss for the time being. Tom Vilsack, the US Agriculture Secretary, unveiled a $700 million incentive program for agricultural and food employees in September. It includes a one-time $600 payout to farmworkers and the meatpacking sector in the United States. A part of the $700 million, up to $20 million, would be used to assist grocery shop employees. However, these additional payments will not be made by the IRS. Instead, state agencies, NGOs, and tribal governments will provide them.
Despite the fact that the economy is improving, millions of people continue to live in poverty and are unable to get government assistance, according to Nasif. According to a survey by economist Eliza Forsythe, just 4 out of 10 unemployed people got unemployment benefits.
